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Cider Market Predicted to Hit $16,252 Million by 2023 - Growth Drivers and Trends | Anheuser-Busch Companies LLC, Asahi Premium Beverages, Aston Manor, C&C Group PLC
Press release from: Allied Market Research
The growth of the global cider market is driven by a surge in demand for gluten-free drinks and rise in preference for low alcohol beverages. However, high sugar content in cider is the major factor that hampers the market growth, owing to alarming obesity rates in different regions. Conversely, rise in popularity of cider in developing countries of Asia-Pacific and LAMEA is anticipated to provide lucrative opportunities for the market expansion.
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The global Cider market was valued at $10,667 million in 2016, and is projected to reach $16,252 million by 2023, growing at a CAGR of 6.1% from 2017 to 2023. The apple-based ciders occupied more than half of the share in the global market in 2016.
The global cider market is segmented based on product, distribution channel, packaging, and geography. On the basis of product, the market is classified into apple flavored, fruit flavored, and perry. By distribution channel, it is categorized into on-trade and off-trade. The off-trade segment is further divided into supermarkets & hypermarkets, specialist retailers, convenience stores, and others, on global level. Draught, cans, glass bottles, plastic bottles, and others are different types of packaging used in the cider market. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The growth of cider market is driven by huge marketing campaigns such as attractive imported brands, increase in local craft suppliers, and rise in cider related events. Moreover, the innovation in flavors, shift of interest from mainstream beers, and rise in awareness towards fruit-based spirits support the expansion of global cider market.
Rise in demand for ciders in various regions and increase in adoption in developing economies are the major driving factors of the market. The growth rates of pear and fruit flavored cider is comparatively more than apple ciders, owing to increased consumer preference for pear, fruit flavored, and blended ciders rather than conventional apple ciders. UK is the major market for different types of ciders, occupying around one-third of the global market, whereas North America registers the highest growth rate in the global market.
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Comprehensive Analysis of Prominent Cider Market Players
•Anheuser-Busch Companies LLC
•Asahi Premium Beverages
•C&C Group plc
•Carlsberg Breweries A/S
•Carlton & United Breweries (CUB)
•Heineken UK Limited
•The Boston Beer Company.
The cider market by distribution channel is segmented into on-trade and off-trade channels, in which, off-trade is further segmented into hypermarkets, supermarkets, convenience stores, mini markets, specialty stores, convenience stores, and others. The on-trade segment is anticipated to grow at significant CAGR of 6.4% during the analysis period.
Europe dominated the market with more than half of market share in 2016, and is anticipated to continue its dominance during the forecast period. Furthermore, North America and Asia-Pacific are projected to grow at the highest CAGRs, owing to continuously increasing popularity of the beverage in the regions.
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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